by Jaimie Siegle | Advertising Systems, Inc.
Facebook and Foursquare announced plans to improve advertising features late last week, both of which involve using data to produce hyper-targeted ads.
Foursquare plans to provide data to brands and agencies that will help create more informed ads on various platforms and networks. The location-based app’s data “includes the 3.5 billion check-ins made on its platform and the data it receives from the more than 40,000 developers that have integrated Foursquare’s location database in their apps, including the popular apps Instagram, Uber and Evernote,” Adage reported.
Facebook, however, will use data from companies Datalogix, Axciom and Epsilon – as opposed to its own customer data – to make advertising more effective through more in-depth target markets.
“Facebook’s original method of advertising was concocted from information based on usage within the site itself. This expansion into the whole of the Web is a giant leap for the networking service,” MakeUseOf.com reported last Thursday.
For businesses, this means they can target their ads to more than 500 specific groups, or “partner categories.” These groups range from “dairy and egg buyers” to “cereal buyers,” and are further broken into subcategories such as “children’s cereals,” “hot cereals” and “fiber cereals.”
For small businesses and retailers, these “partner categories” reach a smaller niche of potential customers than Facebook’s current advertising options. Retailers, for instance, can target ads to people searching for their product in their city, from grocery shoppers to car buyers.
Is your interest piqued by either one of these advertising features from Facebook and Foursquare?